Preparing to sell

Whether you’re planning to sell or buy first, start talking to real estate agents in your area to find out what might be coming on the market, and ask them for a market report to see whether there is demand for a property like yours.

 If you have specific wants and needs, you may find the type of property you’re looking for doesn’t come on the market that often, so you should prepare your selling strategy based on this. Develop a contingency plan in case you sell before you can buy – would you need to rent, or could you stay with family short term? Do you have pets that you need to consider? It can be harder to find a rental that allows pets so all of these factors should be considered before you put the ‘For Sale’ sign outside.

Now is a great time to start tackling all those jobs around the house that you’ve been putting off. Prepare your current home for sale – tidy the garden, declutter and touch up paint where needed. It can be handy to have a friend pop round and get them to tell you what they see – this can help to determine what your perspective buyers might focus on. Look at your property through the eyes of a potential buyer.

When it comes time to sell your home, you’ll want to try and achieve a maximum profit. If you’re thinking of selling, increase your home loan payments to build up your equity. When it comes time to sell, more of that sale profit can be converted to cash. Consider what your budget allows – can you make extra one-off payments, pay a little more on your scheduled payment or change your repayment frequency to help pay off that loan faster.